Anbang.docx - Anbang Founded 2004 as provincial car insurer...

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Anbang Founded 2004 as provincial car insurer global investor Known: for ambitious Deal-Making: - Waldorf Astoria New York 2 Billion - failed bid for Starwood chain Business Model: Not Traditional insurance platform insurer an investment holding company that funds its purchases by selling insurance products aggressive deal-making was funded by selling insurance plans that promised big returns to consumers, rather than than through bank loans or the bond market Government (China Insurance regulator) takes control of Anbang for 1 Year Investigation since June Reason: - systematically important and could pose a threat to the entire financial system - - economic crimes illegal management - fraudulent fund raising and improperly taking company assets - main concern is the potential cash crunch when Anbang’s high-interest wealth management products came due, - If Anbang had defaulted on its products it might have created doubts in the public mind over the security of the
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